Q&A with Dominick Verdi

What did you do before joining Capital Accounting & Tax (CAT)?

I worked in the public accounting space for close to 10 years. While working, I pursued and earned a master’s in accounting in lieu of a CPA license shortly thereafter.  My experience is concentrated in taxation compliance and consulting services for high-net-worth individuals and closely held small businesses.  Most recently, I owned and operated my own CPA firm before joining forces with CAT in November of 2023.

During the interview process, how did you know Capital Accounting & Tax was right for you?

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After meeting Mitch in person, I knew CAT was my next venture in life.  I have a particular set of core values I live and abide by and after meeting with Mitch and other members of leadership, I felt confident we were aligned.  To confirm my decision, I met with Barron Barnes and his team.  The team seemed warm and accommodating.  Barron and I spoke about more technical tax-related engagements I would be asked to help with before I accepted the position.  The upfront transparency helped me to make an informed decision to join the team.  I am happy to report everything has worked out just as expected!

What does a typical day look like as a Tax Manager at Capital Accounting & Tax?

My days are filled with a mixture of tasks that can vary depending on the time of the year. Overall, the processes already in place are familiar to me, given my experience.  I would say about 60% of my time is spent reviewing and sometimes preparing tax returns.  As a function of my review and being the point-of-contact, about half of this time consists of communicating results of compliance with the taxpayer(s) while providing consulting services as opportunities present periodically throughout the year.  Another 30% of my time is devoted to servicing the CIA advisors with their needs in many ways.  The last 10% of my time is spent communicating and coordinating with Barron and the team daily.  Every day is filled with excitement as I contribute my technical ability to help service current and prospective families, regardless of affiliation to Capital Investment Advisors. From a broader, more holistic perspective, I have been empowered to help guide this growing team considering my experience, and I have been encouraged to be an active participant in growing the team to achieve our goals, mission, and purpose.

What does the CAT team look like? How do you work together with the Investment Advisors?

The CAT team consists of a Senior Tax Advisor, Barron Barnes, who operates as the team lead and the most experienced licensed CPA servicing both Capital Investment Advisors-related families and 3rd party clients alike. To help service a well-established base of families already engaged with CAT and to provide capacity for future growth, the CAT team has recently retained three additional licensed CPAs operating as Tax Managers under the guidance of the Senior Tax Advisor.  Between Barron and the support of the Tax Managers of varying skill sets and experience, the team of CPAs together provide for the ability to service a broad spectrum of families and dynamics.  Additionally, the team is equipped with administrative personnel to assist the CPAs with internal reporting and management.  To fill in any remaining capacity shortages, the CAT team relies on a trusted and monitored group of remote contract accountants to help with the initial preparation of virtually all services provided by the CAT team.  Altogether, the CAT team is fully outfitted to provide a wide array of services, including but not limited to bookkeeping/accounting services, multi-state business compliance and consulting, business combination consultations, and high-net-worth compliance consulting, retirement, and estate planning.  As a full-functioning accounting firm providing both tax and accounting compliance and consulting services, CAT is able to sustain itself through its primary function of providing independent tax-related compliance and consulting services to families under CIA advisement.  As an added benefit to Capital Investment Advisors, the CAT team acts as a trusted, “down-the-hall” resource of tax intelligence for the CIA advisors to utilize as needed.  Furthermore, to promote prosperity and growth, the CAT team fills the rest of its capacity servicing non-CIA families seeking tax and accounting services.

What drives you professionally? What areas of your role do you find most fulfilling?

I am driven to provide exceptional service that has a meaningful impact on the lives of many. I love what I do because, in the end, I hope to provide happiness in the form of prosperity, financial peace of mind, clarity, education, risk mitigation, and, my favorite, a solid strategic tax mitigation plan.  I feel as though I have been blessed with a talent and see my CPA services provided to my community as a primary factor in being a successful human being.  I find happiness and fulfillment in helping others, especially those in less fortunate circumstances, most notably by providing an avenue to financial freedom and understanding. Conflict resolution with the IRS and state departments on behalf of taxpayers and educating a receptive and proactive family or business are the most fulfilling moments within my current role.

What is your favorite thing about working at Capital Accounting & Tax?

Working for CAT is unlike public accounting in more ways than it is similar. The expectations of CAT associates are aligned with the vision of the CIA owners and allow for all functions of the team to operate freely within our designated roles.  The team is properly staffed with a nice mix of personalities that contribute and help define the culture of CAT and on a larger scale, CIA as a whole.